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Sales Continues To Raise in August GTA Real Estate Market

by Vlad
September 18, 2015
Category:   Market Updates
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house2TORONTO, September 4, 2015 — Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 7,998 residential transactions through the TREB MLS® System in August 2015. This result represented a 5.7 per cent increase compared to 7,568 sales reported in August 2014. On a GTA-wide basis, sales were up for all major home types.

The annual growth rate in new listings was greater than the annual growth rate in sales, but active listings at the end of August were still down compared to last year. This suggests that sellers’ market conditions remained in place, especially where low-rise home types like singles, semis and townhouses were concerned.

“Buyers in the GTA remain confident in their ability to purchase and pay for a home over the long term. They see ownership housing as a quality investment that has historically produced positive returns while at the same time providing owners with a place to live in their chosen community,” said Mr. McLean.

Both the MLS® Home Price Index (HPI) Composite Benchmark and the average selling price for all home types combined were up substantially in August compared to the same period in 2014, with both increasing by approximately 10 per cent year-over-year.

“A record year for home sales continued to unfold in August as competition between buyers exerted upward pressure on selling prices. It was encouraging to see annual growth in new listings outstrip annual growth in sales, but we will need to see this for a number of months before market conditions become more balanced,” said Jason Mercer, TREB’s Director of Market Analysis.

Click here to see Full Report [pdf]

Historic Annual Sales and Average Price [pdf]

 

Summary of TorontoMLS
Sales and Average Price – August 1 – 31, 2015

2015

2014

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto
(“416”)

2,807

605,817

4,883

2,752

564,270

4,239

Rest of GTA (“905”)

5,191

600,872

7,745

4,816

536,318

7,420

GTA

7,998

602,607

12,628

7,568

546,482

11,659

 

TorontoMLS Sales & Average Price  By Home Type – August 1 – 31, 2015

Sales

Average Price

416

905

Total

416

905

Total

Detached

756

2,913

3,669

1,017,652

733,577

792,111

Yr./Yr. % Change

-8.5%

7.5%

3.7%

12.9%

13.8%

12.4%

Semi-Detached

231

565

796

662,968

492,428

541,919

Yr./Yr. % Change

-5.7%

5.0%

1.7%

5.5%

10.5%

7.8%

Townhouse

315

931

1,246

524,136

451,311

469,721

Yr./Yr. % Change

1.3%

0.5%

0.7%

13.2%

11.0%

11.7%

Condo Apartment

1,475

643

2,118

406,587

319,764

380,228

Yr./Yr. % Change

10.1%

23.4%

13.8%

9.5%

4.1%

7.6%

 

August 2015 Year-Over-Year Per Cent Change in the
MLS® HPI

 

Composite (All Types)

Single-Family Detached

Single-Family Attached

Townhouse

Apartment

TREB Total

9.99%

11.55%

10.98%

9.63%

4.66%

Halton Region

9.50%

9.82%

9.53%

6.25%

Peel Region

9.38%

10.54%

10.79%

9.23%

2.62%

City of Toronto

7.54%

9.62%

8.03%

8.89%

4.59%

York Region

14.14%

14.69%

14.58%

14.04%

7.17%

Durham Region

13.80%

13.40%

15.01%

10.92%

10.97%

Orangeville

8.00%

8.73%

8.18%

South Simcoe County1

12.79%

12.66%

12.14%

1South Simcoe includes Adjala-Tosorontio,
Bradford West Gwillimbury, Essa,
Innisfil and New Tecumseth

Here is a video from the Toronto Real Estate Board on the August Market Watch for 2015.

Source: (All data and comments in this article is an excerpt from the  market watch report prepared by Toronto Real Estate Board)


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